On an average day, newly formed nonprofit organizations in the United States need to recruit at least 1,000 volunteers to serve on their boards of directors. Our analysis of Internal Revenue Service data also shows that existing nonprofit organizations must recruit at least the same number each day to replace their retiring directors. To protect these board members, many nonprofit organizations purchase directors and officers (D&O) liability insurance. The median annual D&O premium is less than…

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Read more stories by John H. Vogel, Jr., Sarah Gohl Isabel & James Sears Bryant.